Nifty BSE | NSE 25/05/12 Are Mutual Funds betting on Nifty?

Euro Ceramics, a player in the ceramics and aluminium extruded sections domain, is entering the capital market with an initial public offering, IPO of 56.21 lakh equity shares of Rs 10 each.

Moneycontrol conducted a poll on market experts to check whether to apply for the public issue or not. Experts said apply.

Experts/Company	Poll Result	Experts view
R S Iyer (KR Choksey)	Apply	Euro Ceramics is a good issue. Its valuation looks attractive at the price of Rs 180 per share. Investors will get benefit from it. Investors should be cautious before investing in other IPOs.
SP Tulsian (Investment Advisor)	Apply	Euro Ceramics is a good issue. It looks overstretched at higher price of the band but still investors can apply for it, considering the Euro brand in the market. They are also entering in the sanitary ware market.
Manish Bhatt (Prabhudas Lilladher)	Apply	Euro Ceramics has a good brand name in the market and its issue looks to be good. People can subscribe to this.

 

 

 

 

 

 

 

 

 

The price band has been fixed at Rs 150-180 per share . The issue opens on February 7 and closes on February 13.

Of the 56.21 lakh equity shares, 1.21 lakh equity shares have been reserved for employees, reducing the net offer to 55 lakh equity shares, said a company release. It will use the proceeds to part finance the setting-up of manufacturing facilities for sanitary ware products at Bhachau, Kutch.

The net issue to the public will constitute 32.16% of the fully diluted post IPO paid-up capital of the company. About 50% of the net issue to the public will be available for allocation to qualified institutional buyers on a proportionate basis (of which 5% shall be allocated for mutual funds only).

About 15% of the net issue will be available for allocation on a proportionate basis to Non-institutional bidders and about 35% of the net issue to the public will be available for allocation to retail individual bidders.

The book-running lead managers to the issue are UTI Securities and Enam Financial Consultants.